Before filing a corporate tax return from a newly migrated accounting system, confirm that the accounts and tax schedules survived the move accurately. A successful software import does not prove that opening balances, transactions and attachments are complete.
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Preserve access to the old records and build a reconciliation. The company still needs supporting records under IRAS record-keeping requirements, even if it stops using the old software.
Define the migration boundary
Record the cut-off date and which data moved: opening balances, full transaction history, supplier and customer accounts, documents and tax codes. Identify what stayed in an archive. A trial balance import and a complete transaction migration are different projects.
Check whether staff continued posting in the old system after the export. A late adjustment can be lost or duplicated if nobody records which system holds the final version.
Reconcile totals and supporting detail
- Old and new trial balances at the migration date.
- Bank balances and outstanding reconciling items.
- Customer and supplier subledgers.
- Fixed assets, accumulated depreciation and related tax schedules.
- Director and related-party balances.
- Tax codes, opening entries and post-migration adjustments.
Investigate differences rather than using one unexplained balancing journal. An adjustment making the totals agree may hide missing invoices or a changed classification.
Example: opening receivables become new sales
The migration imports outstanding customer balances, then a second process imports the original sales invoices as current-year revenue. The accounts can overstate income even though the customer ledger appears useful. Trace the import method and remove a duplication through a controlled correction supported by the original records.
Carry forward the tax schedules
The new chart of accounts may use different labels. Maintain a mapping so the tax preparer can identify the same transactions and prior-year balances. Review deductions, disallowable expenses, capital allowances and other relevant schedules using the actual evidence.
Do not assume an accounting system’s default tax settings implement every Singapore corporate tax rule. Reconcile the computation to the final accounts and supporting schedules independently.
Preserve documents before cancelling the old subscription
Export the records and attachments needed for statutory retention and later enquiries. Test that files open, that invoice references can be searched and that a transaction can be traced. A folder containing thousands of unreadable attachments is not a practical handover.
Agree who holds the archive and how authorised staff or advisers can retrieve it. Avoid leaving the only accessible copy in an outgoing employee’s personal account.
Close the migration before approving the return
Maintain a difference log showing the issue, evidence, correction and reviewer. Give the tax preparer the final accounts version and explain material migration adjustments. Keep the filed return and acknowledgement separate from working drafts.
If an error is discovered after submission, review the applicable correction through IRAS corporate tax services. Updating the new software alone does not amend a filed return.
Is a matching trial balance sufficient?
It is an important check, but supporting detail and tax schedules also need to reconcile.
Can we delete the old system’s export after filing?
Assess retention requirements and the completeness of the archive first. Filing does not remove the need for supporting evidence.
Further company tax and accounting resources
Explore our corporate tax filing guide, bookkeeping error checks and related-party transaction guidance.
Get help reviewing the tax file
For company accounting or tax advice, email Raffles Corporate Services at [email protected] or WhatsApp +65 8501 7133. Our accounting team and tax advisers can review your circumstances. Where contractual or other legal advice is needed, advisers from our associated law firms can assist.